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simpson, if we go up the fiscal cliff simpsons are hit the hardest. the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social security thing. >> eric: obama in october of 2008 before he was president obama. season. >> the way bush has done it, over the last eight years is to take out a credit cardback of china in the game of the children, driving up the national debt. that is irresponsible and unpatriotic. >> eric: unpatriotic. $5 trillion in debt. president obama will add ten, 11, 12 trillion in debt. when he is done with this. >> for years, president obama running when he was senator, running for president always said that the bush tax cuts were only for the rich and only ben
simpson, if we go up the fiscal cliff simpsons are hit the hardest. the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for...
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but you can see the pieces coming together, as you laid out, on the fiscal cliff. some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration, the white house has been very clear, they will not sign anything, even to get past december 31st. that doesn't include a debt ceiling of some sort. so do you think they can hold firm on that if republicans offer them a package that doesn't include the debt ceiling? >> this is where i think the tension is now arising, which is even if you have some agreement over the tax rates which will jam the republicans a bit, can you jam them on the debt limit also. i think the concern will be an administration overstepping or overreaching and trying to jam a debt limit inc
but you can see the pieces coming together, as you laid out, on the fiscal cliff. some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the...
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mostly because of fiscal cliff concerns and higher tax concerns. that said, i agree with ken. this is a larger issue that nobody is willing to talk about, the third rail of american politics -- entitlements. we can't raise taxes enough to compensate for what we need in our democrat kbrafk situation on entitlements. these are fundamental issues. it's important to understand that not only have we seen investment decline and the composition of employment. the manufacturing sector not showing big gains. the investment side of the equation not showing big gains. that shows delays in hiring and defer meant by the fiscal cliff. it's clear that we are at a fork in the road. we can choose to enhance our role in the global economy by taking the situation and making responsible decisions or by deliberately slitting our own economic throats we'll lose what credibility we have left. i think we are at the fork in the road now. >> john, instilling confidence would be a big role for washington. you know, there isn't a great deal of confidence in washington. there is less in congress. at this
mostly because of fiscal cliff concerns and higher tax concerns. that said, i agree with ken. this is a larger issue that nobody is willing to talk about, the third rail of american politics -- entitlements. we can't raise taxes enough to compensate for what we need in our democrat kbrafk situation on entitlements. these are fundamental issues. it's important to understand that not only have we seen investment decline and the composition of employment. the manufacturing sector not showing big...
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. >>> meanwhile, when you hear the term fiscal cliff, you probably think about higher taxes, right? could it also have an impact on what we eat? first, a very good morning to washington dc, a foggy start on this sunday, december 9th.si eenx a month! okay, come with me -- we're gonna save you money. with straight talk at walmart, you get unlimited talk, text and data for only $45 a month per phone. would we get the same coverage? same coverage on america's best networks. you saved $146.76 by switching to straight talk. awesome! now you can afford to share your allowance with me. get the season's hottest smartphones like the samsung galaxy s2 and get straight talk with unlimited data for just $45 a month -- from america's gift headquarters. walmart. ♪ time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super
. >>> meanwhile, when you hear the term fiscal cliff, you probably think about higher taxes, right? could it also have an impact on what we eat? first, a very good morning to washington dc, a foggy start on this sunday, december 9th.si eenx a month! okay, come with me -- we're gonna save you money. with straight talk at walmart, you get unlimited talk, text and data for only $45 a month per phone. would we get the same coverage? same coverage on america's best networks. you saved...
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in firms of the discussions of the fiscal cliff, the white house is focused solely on cuts for top earners. almost no discussion of unemployment insurance and payroll taxes, the farm bill which would include the price of milk and food stamps on a broader level. at what point do these become sticking points in the negotiation? >> reporter: they're going to become sticking points and probably before the end of the year, because remember there are a couple of things going on. if the president gets a deal on rates, republicans are going to be less inclined to go along with some of the other things, like extended unemployment insurance and some sort of extension perhaps in different form of the payroll tax cut. but also to avoid the sequestration, the congress has got to find some way to have cuts in the interim. if they kick the can down the road they have to have month by month cuts. the farm bill, talking $10 billion a month to in effect buy off the sequestration while they negotiate, the farm bill if you take the senate bill, $23 billion in subsidies cut overall, $4 billion as mentioned fro
in firms of the discussions of the fiscal cliff, the white house is focused solely on cuts for top earners. almost no discussion of unemployment insurance and payroll taxes, the farm bill which would include the price of milk and food stamps on a broader level. at what point do these become sticking points in the negotiation? >> reporter: they're going to become sticking points and probably before the end of the year, because remember there are a couple of things going on. if the...
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the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table. republicans need to decide where they want to move. john boehner needs to decide how he will get his caucus together. they're becoming increasingly isolated in their position. hopefully we can have a deal which protects the middle class. there is a piece of legislation sitting in the house today that would prevent taxes from going up on 98% of the american people. 97% of small businesses. they should go ahead and move that. and then we can have a broader discussion of how we achieve larger deficit reduction and avoid the fiscal cliff. but there's plenty of room and plenty of time for compromise. the president's position is clear. we're not going to do anything that h
the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table. republicans need to decide where they want to move. john boehner needs to decide how he...
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rates that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much better. >> right. i heard your lead-in on it, and you said this is a new idea floated by howard dean. ints a new idea. several democrats have floated that a while. the code word is going back to the clinton tax rates and talk about the clinton economy and we should go back to the clinton tax rates. what that means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. so it's not new, and no, i don't support that. i don't think that's a great idea at all. it will slow down the economy. >> all right. the truth is when you look at economists' evaluations, it will slow down
rates that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much...
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and if this tax break goes away, as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depends on the tax bracket they're in, but on average, it would be about 20 to $25,000. the banks have an extra incentive to sell short and absorb the loss. the nation's biggest lenders get a credit for short sales as a form of foreclosure relief. foreclosures also sell on average for $30,000 less than homes sold via short sale. so as we near the fiscal cliff, you can expect short sales even more as homeowners get hit with bank taxes and banks get stuck with foreclosed properties. if we go over the cliff, the taxpayer's base with a short sale may be steep enough to walk away instead. and that would push the fiscal cliff higher for 2013. i'm christine romans. >>> all right, pay attention to this, it would affect you. many of us rely on them. on-line reviews of businesses and products. but did you ever think that giving a negative review would give you in trouble? a d.c. contra
and if this tax break goes away, as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depends on the tax bracket they're in, but on average, it would be about 20 to $25,000. the banks have an extra incentive to sell short and absorb the loss. the nation's biggest lenders get a credit for short sales as a form of foreclosure relief. foreclosures also sell on...
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president obama has all the leverage because he knows if it goes over the fiscal cliff, tax cuts expires and he'll never let the top 2% get that tax cut reinstated. if they do what you suggested, vote the tax cut, continue it for the 98%, then the leverage switches to them come the time of the debt limit. they might be able to make a deal where they save some of it so it doesn't go up to 39%. maybe goes up to 37.5%. maybe they do the buffett rule and only raise rates on people making $500,000. they have a little room to leverage but right now they have zero leverage, zero. >> do you agree with that? i don't know if i agree with that. it's hard once the rates go back to 39.6 or whatever they go to, to go back and say, now we to want cut taxes for the rich. what's the reason to do it? the republican party says we have to stop the government, stop paying our debts, don't pay our bills anymore because we have to help out the rich now. that would be the worst situation to be in. >> as the conversation shifts really to the bottom line in the deficit. at the end of the day the whole thing is ab
president obama has all the leverage because he knows if it goes over the fiscal cliff, tax cuts expires and he'll never let the top 2% get that tax cut reinstated. if they do what you suggested, vote the tax cut, continue it for the 98%, then the leverage switches to them come the time of the debt limit. they might be able to make a deal where they save some of it so it doesn't go up to 39%. maybe goes up to 37.5%. maybe they do the buffett rule and only raise rates on people making $500,000....
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if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across-the-board spending cuts will kick in on january 1st. >> reporter: there are signs some republicans are now willing to compromise on taxes, if they can secure cuts to social security, medicare, and medicaid. >> you give the president the 2% he's talking about, the rate increase on the top 2%. and all of a sudden, the shift goes back to entitlements. >> reporter: one proposal under discussion, raging the eligibility age for medicare is not going well for some dem -- democrats and advocates for senior citizens. >> the option to raise the medicare age is bad policy and will increase costs. because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowering skyrocketing healthcare costs. in washington, danielle nottingham, wjz eyewitness news. >> well, the official fiscal cliff deadline is december 31st. many on capitol hill say an agreement is needed buyer the before the end of this w
if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across-the-board spending cuts will kick in on january 1st. >> reporter: there are signs some republicans are now willing to compromise on taxes, if they can secure cuts to social security, medicare, and medicaid. >> you give the president the 2% he's talking about, the rate increase on the top 2%. and all of a sudden, the shift goes back to entitlements....
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pitchingghis plan to avoid the fiscal cliff ttrough higher ta. taxes. negotiations between the white stalled. president obama says he will not sign a bill "without" a taxxincrease on incomes over two hundred fifty thousand dollars or more. offer by republican john boehner has not only been rejected by theeadministration party. if a deal sn't made by december thirty-first, automatic tax increases and budget cuts will kiik in by the new year. sooe maryland leaders are speaking out against the fedd' decision to deny aid to hurriiane sandy victims in ur hundreds of residents along the eastern shore were devvstated whennsuperstorm sandy unleashed her fury in pctober. bbt according to the federal emergeecy management agency... tte damage wasn't enough tt warrrnt áindividualá aid. at a senatt aappopriations hearing today... senators barbara challenged fema leaders to re-think their decisson. 1:24 we in maryland have sooe of the most prosperous counttes in america but we also haae someeof the most &ppoor and that's who got hit b this storm 33 governor marrin
pitchingghis plan to avoid the fiscal cliff ttrough higher ta. taxes. negotiations between the white stalled. president obama says he will not sign a bill "without" a taxxincrease on incomes over two hundred fifty thousand dollars or more. offer by republican john boehner has not only been rejected by theeadministration party. if a deal sn't made by december thirty-first, automatic tax increases and budget cuts will kiik in by the new year. sooe maryland leaders are speaking out...
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a taxes would be raised if there's no deal to avert the fiscal cliff. yesterday as you said, the president was in northern virginia meeting with a middle class family who would suffer if there was no deal. last week the president went to suburban philadelphia, to a small business again to make the point of his side in these fiscal cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and getting outside of washington, d.c. congressional republicans not so happy that the president is doing this. >> we understand that. paul steinhauser live in washington, thank you. >>> let's talk more about the fiscal cliff. we have the washington correspondent for the new yorker and cnn contributor ryan lizza with us. john boehner and the president in a room, just the two of them. good idea? >> i think it is a good idea. >> if you look at the accounts of the negotiations of 2011 when you had boehner, mcconnell, nancy pelosi all in one ba bainer and the president w
a taxes would be raised if there's no deal to avert the fiscal cliff. yesterday as you said, the president was in northern virginia meeting with a middle class family who would suffer if there was no deal. last week the president went to suburban philadelphia, to a small business again to make the point of his side in these fiscal cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and...
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fiscal cliff. >> back and forth of offers. it's pretty clear the republicans aren't going to come to the table with anything reasonable. i'll be the one to say it, i know it will be disastrous and doom our economy for years to come, let's go over the [ bleep ] cliff. fine. just leave the negotiating tables and send us over the cliff. you know why? at least for a few seconds, it will feel like we're flying. >> all right. that's going to wrap things up for me today. thanks for your time. see you back here tomorrow at 11:00 eastern. joining me republican congresswoman diane black, atlanta mayor reid and on the power panel "time" magazine's karen tum multi. karen finney and republican strategist robert trainham. "now" with alex wagner is coming up. >> we have a spicy enchilada today. lawmakers are channeling their inner publicists in the fiscal cliff negotiations. that pr aside, are we any closer to common ground? and it if all this sounds familiar, it is. we will talk deal making and deja vu with ben jaman wallace walls, and the
fiscal cliff. >> back and forth of offers. it's pretty clear the republicans aren't going to come to the table with anything reasonable. i'll be the one to say it, i know it will be disastrous and doom our economy for years to come, let's go over the [ bleep ] cliff. fine. just leave the negotiating tables and send us over the cliff. you know why? at least for a few seconds, it will feel like we're flying. >> all right. that's going to wrap things up for me today. thanks for your...
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i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would, jared. >> they would not. >> jared, you have to -- >> let me make a point. the treasury secretary can decide if he or she believes a deal sl imminent not to adjust withholding tables. very important. >> i'm talking about no deal and we go off the cliff. >> we go off and stay off. >> it's $400 billion. we have a lot of things to do with regard to our debt ceiling, and my feeling is no one really believes the united states of america is going to default on its debt even if it lapses. we're dealing with different things. one is real and substantive and the other is psychological. >> i really disagree. >> i know you do. >> we could have a good discussion about this if we had more time. the idea that if the debt ceiling lapses, peter, that means that we can no longer borrow from credit markets and can't finance our debt. >> we're doing most of our borrowing rig
i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would, jared. >> they would not. >> jared, you have to -- >> let me make a point. the treasury secretary can decide if he or she believes a deal sl imminent not to adjust withholding tables. very important. >> i'm talking about no deal...
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it's about the money. >> so is 37 the magic number in this fiscal cliff debate? "outfront," two men who know taxes very well. douglas holtz-ekin, president of the american action forum and robert reich from the university of california and berkeley and former secretary under bill clinton. douglas, does this sound like code for a deal in the works? >> it certainly is good news that they aren't taking things off the table. i would be premature if i was celebrating a deal. there's a long way to go. it's important that they reach an agreement. the fiscal cliff is a very real danger to the united states economy. it's a recipe for a recession. and i certainly would not like to see the rhetoric that we saw from the treasury secretary tim geithner who said he's prepared to go over the fiscal cliff. that is not a good way to talk about what's going on right now. >> mr. reich, let me ask you the same thing. do you think there's code suggesting they are working towards something? because, doug, as you point out, the language was really harsh during this week. but all of a s
it's about the money. >> so is 37 the magic number in this fiscal cliff debate? "outfront," two men who know taxes very well. douglas holtz-ekin, president of the american action forum and robert reich from the university of california and berkeley and former secretary under bill clinton. douglas, does this sound like code for a deal in the works? >> it certainly is good news that they aren't taking things off the table. i would be premature if i was celebrating a deal....
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and we begin with the latest on the rapidly approaching fiscal cliff deadline of automatic tax hikes on everybody and what appears to be a stalemate in the negotiations. in his first interview since the election, president obama reiterated his demand that any deal must raise taxes on the highest earner. yesterday obama also appeared to showroom for flexibility on actually relowering those tax rates in the future. >> i don't think that the issue right now has to do with sitting in a room. the issue right now that's relevant is the acknowledgement that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlements that i'm prepared to make, that we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. p what i've suggested is let's essentially put a down payment on taxes. let's let tax rates on the upper income folks go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax refor
and we begin with the latest on the rapidly approaching fiscal cliff deadline of automatic tax hikes on everybody and what appears to be a stalemate in the negotiations. in his first interview since the election, president obama reiterated his demand that any deal must raise taxes on the highest earner. yesterday obama also appeared to showroom for flexibility on actually relowering those tax rates in the future. >> i don't think that the issue right now has to do with sitting in a room....
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. >> in the fiscal cliff negotiation. so what should this mean? because i think i could interpret any given number to say, oh, that means we shouldn't touch taxes for the upper brackets because the economy still needs as much money as it can have in it. or i could argue, oh, this means that we need more stimulus to keep the jobs going, or i could look at the debt and say, oh, this means we need to cut spending. so what does it mean? so what would you, and what globally, what would mean the most for the u.s. to do in terms of the global economy? >> you know, what you said, you would qualify as an economist. on the one hand, on the other hand. the truth of the matter is that the best way out of this would be a balanced solution because you will always fine a school of thoughts that will say it's much better to cut spending, and you will find another school of thought that says it's much better town crea increase the r and cut taxes and there are those that say you need to cut deficits now and in the long run. we have seen studies of all sorts and th
. >> in the fiscal cliff negotiation. so what should this mean? because i think i could interpret any given number to say, oh, that means we shouldn't touch taxes for the upper brackets because the economy still needs as much money as it can have in it. or i could argue, oh, this means that we need more stimulus to keep the jobs going, or i could look at the debt and say, oh, this means we need to cut spending. so what does it mean? so what would you, and what globally, what would mean...
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the tax hike on most americans if we go over the fiscal cliff and taxes go up across the board, $167 a month. that's about the same as two people's smartphones at home. that's not even a bill they had ten years ago. let's talk more about it. joining us, jared bernstein, senior fellow at the center on budget and policy priorities. nicole wu, director of domestic policy at the center for economic and policy research. jared, i'm not suggesting we go over it but i think you get my point. we spend a lot of money on a lot things, some of which we need, some of which we don't. why would a 200-month tax raise destroy the economy but spending $200 a month on a smartphone somehow doesn't? >> because of the aggregation problem. if you just look at one person it doesn't look so bad. but when you sum it up across 300 million americans and you factor in that 70% of our gdp is consumer spending, in europe it is about 55% so we're more dependent on the consumer for our growth -- then you understand why the congressional budget office -- i don't think they've ever done this before -- is actually pred
the tax hike on most americans if we go over the fiscal cliff and taxes go up across the board, $167 a month. that's about the same as two people's smartphones at home. that's not even a bill they had ten years ago. let's talk more about it. joining us, jared bernstein, senior fellow at the center on budget and policy priorities. nicole wu, director of domestic policy at the center for economic and policy research. jared, i'm not suggesting we go over it but i think you get my point. we spend a...
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. >> reporter: and, of course, going off the so-called fiscal cliff means a tax hike for just about everybody who does have a job. but today, treasury secretary timothy geithner said the president is absolutely willing to go off the cliff unless republicans agree to raise tax rates. >> there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. >> reporter: and on that, no progress. >> where are the specifics? nothing is going on. >> reporter: there have been no rey talks between the white house and republicans for a week. but late today, diane, one possible sign of progress. the president and the speaker of the house spoke via telephone. neither side would give any details about what was said, but the stock market closed higher today with traders, at least, apparently optimistic that a deal will be reached. >> one phone call can do that. okay, thank you, jonathan karl. >>> now, we head overseas to cairo. another day of bloodshed and chaos there. battles erupting in the streets. look there, outside the presidential palace. between
. >> reporter: and, of course, going off the so-called fiscal cliff means a tax hike for just about everybody who does have a job. but today, treasury secretary timothy geithner said the president is absolutely willing to go off the cliff unless republicans agree to raise tax rates. >> there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. >> reporter: and on that, no progress. >> where are the specifics?...
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back in this country, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports the back-and-forth showed no sign of letting up today 20 white house and the republicans in congress. >> reporter: in his saturday weekly address, president obama signaled he is open to making cuts on programs like medicare and medicaid if republicans agree to raise tax rates for the rich. >> i'm willing to find ways to bring down the cost of health care without hurting seniors and other americans who depend on it. and i'm willing to make more entitlement spendings cuts on top of the $1 trillion in spending cuts i signed into law last year. >> reporter: his remarks came one day after house speaker john boehner announced the talkes were stalled. >> well, this isn't a progress report because there's no progress to be report. >> reporter: his democratic counter-part ploals blamed boehner for the stalemate. >> what they offered in return was an empty letter lacking in specifics. >> reporter: such is the
back in this country, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports the back-and-forth showed no sign of letting up today 20 white house and the republicans in congress. >> reporter: in his saturday weekly address, president obama signaled he is open to making cuts on programs like medicare and medicaid if republicans agree to raise tax rates for the rich. >> i'm...
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cliff, what i'm confused about is what taxes will be raised? >> that's right. well the payroll tax holiday, it was created in 2010, it had a two-year tax extension, it expires on december 31st. this is a 2% payroll tax that all americans were enjoying. if nothing is resolved, your first paycheck in january is going to be 2% lighter. that may not sound like a lot. but you take a person who's makimake $50,000 per year, it's about 1,700 a year. >> i'm going to guess that even if we do leap off the cliff, we'll have some type of a resolution, some type of a deal that will be retroactive back to january 1. but why play with poison like that, right now have to expect that you want that deal done now. >> what are the convinces for tfor -- consequences for military personnel? >> just on the defense sector alone, you're looking at $55 billion in cuts just to the defense budget. you have to look at the ancillary part of this. you look at real estate holdings, homes that are have a close proximity to defense. >> final question for you, todd, a major confu
cliff, what i'm confused about is what taxes will be raised? >> that's right. well the payroll tax holiday, it was created in 2010, it had a two-year tax extension, it expires on december 31st. this is a 2% payroll tax that all americans were enjoying. if nothing is resolved, your first paycheck in january is going to be 2% lighter. that may not sound like a lot. but you take a person who's makimake $50,000 per year, it's about 1,700 a year. >> i'm going to guess that even if we do...
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Dec 8, 2012
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in the struggle to avoid the fiscal cliff, senior citizens are fighting to protect their medicare, their social security benefits. >>> and the seersz series in the country's civil war compares it to living life in a grave. cnn is on the scene for us. yo, give it up, dude! up high! ok. don't you have any usefull apps on that thing? who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ is engineered to amaze. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative ople are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or m
in the struggle to avoid the fiscal cliff, senior citizens are fighting to protect their medicare, their social security benefits. >>> and the seersz series in the country's civil war compares it to living life in a grave. cnn is on the scene for us. yo, give it up, dude! up high! ok. don't you have any usefull apps on that thing? who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage...
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Dec 9, 2012
12/12
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WBAL
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and spending stalemate recommended take the country over the fiscal cliff in three weeks. they want to about to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase to actually solve our problems? yes. >> we have one house and that's it. this is in the democrats' hands. >> we agree on 98% of this, to me, i would just get it off the table also they don't worry about it. >> they agreed that visits are going up on the rich no matter what. >> you cannot generate enough revenue to have meaningful deficit reduction. >> republicans want a big spending cuts from programs like medicare and social security. >> we do not want to be here in another year or attend. >> on both sides of pennsylvania avenue, from main street to wall street, americans are waiting to see who will blink first. both are eager to wind down the crisis, but no one wants to walk away in defeat. , wbal-tv 11 news. >> an update on a former president in the hospital. >> former president george h. w. bush remained unstable condition for treatment of a bronchitis- related costs. and
and spending stalemate recommended take the country over the fiscal cliff in three weeks. they want to about to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase to actually solve our problems? yes. >> we have one house and that's it. this is in the democrats' hands. >> we agree on 98% of this, to me, i would just get it off the table also they don't worry about it. >> they agreed that visits are going up on the rich no matter what....
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Dec 9, 2012
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cliff i don't think east party wants -- on their backs if he we go off this cliff, payroll taxes go up and republicans would actually take the brunt of it. >> congressman tim cole of oklahoma said this about the situation, listen to what he said and then i'll get your take on it. >> some of our people think if we just dig in and hold strong, we can stop it, that's not is case, it happens automatically. you have to two something and going something requires the cooperation of the senate which is democrat run and the signature of the president. so we're not going to get 100% of what we want, but we can get a lot. john boehner is trying to focus this where it belongs and that's on spending restraint and excitement reform because this revenue won't come close to dealing with our fiscal problem. >> does this mean that president obama sort of holds all the cards not just with spending cut, but on the tax cuts as well? >> all of these i'm going to stand my ground, they're not working anymore. these pledges, they're not working right now. a lot of them are going to recognize they can't get
cliff i don't think east party wants -- on their backs if he we go off this cliff, payroll taxes go up and republicans would actually take the brunt of it. >> congressman tim cole of oklahoma said this about the situation, listen to what he said and then i'll get your take on it. >> some of our people think if we just dig in and hold strong, we can stop it, that's not is case, it happens automatically. you have to two something and going something requires the cooperation of the...
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Dec 6, 2012
12/12
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not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve the rates going up on the top 2%. >> "the new york times" reports that senior republican leadership aides are contemplating a fall-back position on a fiscal deal. they could foresee taking up and passing legislation this month to extend the tax cuts for the middle class and then resume the bitter fight over spending and taxes as the nation approaches the next hard deadline. it's statutory borrowingç limi which could be reached in late january or february. speaking to a business roundtable, president obama responded to that idea this way. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again, as part of a budget negotiation, which by the way we have never done in our history until we did this it last year, i will not play that game. >> john boehner and house republican leadership met with small business owners today to
not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve the rates going up on the top 2%. >> "the new york times" reports that senior republican leadership aides are contemplating a fall-back position on a fiscal deal. they could foresee taking up and passing legislation this month to extend the tax cuts for the middle class and then resume the bitter fight over spending...
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Dec 10, 2012
12/12
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cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of communication remain open, end quote. this meeting comes as the white house and congress appear to be at at impasse, you know by now is crippling spending and tax hikes and could cost us jobs and send us back into recession and to solve the problem, republicans say we must prevent our ballooning national debt from crushing generations. and chief white house correspondent now ed henry joins us by phone with the latest on this breaking story, ed, they kept this under wraps. how big after deal is this? >
cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of...
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. >>> when you hear the term "fiscal cliff, yts you probably think of higher taxes. but it could have an impact on what you eat. the details from washington just ahead. ♪ [ ding! ] losing your chex mix too easily? time to deploy the boring-popcorn decoy bucket. then no one will want to steal the deliciousness. with a variety of tastes and textures only chex mix is a bag of interesting. [ tylenol bottle ] me too! and nasal co [ tissue box ] he said nasal congestion. yeah...i heard him. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. to the number 1 club in the world. the potential of manchester united unlocked. nyse euronext. unlocking the world's potential. (announcer) when subaru owners look in the mirror, they see more than themselves. so we celebrate our year-end with the "share the love" event. get a great deal on a new subaru and 250 dollars goes to your choice of five charities. by the end of this, our fifth year, our total can reach almost 25 million dollars. it's a nice reflection on us a
. >>> when you hear the term "fiscal cliff, yts you probably think of higher taxes. but it could have an impact on what you eat. the details from washington just ahead. ♪ [ ding! ] losing your chex mix too easily? time to deploy the boring-popcorn decoy bucket. then no one will want to steal the deliciousness. with a variety of tastes and textures only chex mix is a bag of interesting. [ tylenol bottle ] me too! and nasal co [ tissue box ] he said nasal congestion. yeah...i...
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Dec 9, 2012
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. >> the other big story is the fiscal cliff. can you help us read the tea leaves here? this week we heard from timothy getter in, the treasury secretary. a reporter at cnbc asked if you don't get higher tax rates on the rich and republicans come up with doing away with loopholes and exceptions are you prepared to go over the fiscal cliff and he said absolutely. kpub cans with their counterproposals this week. what's behind closed doors? how do you read this? >> you know as well as i do, what happens in the public when you have intense negotiations going on is really, is no reflection of what is i going o in negotiations. i think it is important the president and white house and tim geithner think it is important to keep the possibility of going over the fiscal cliff to keep pressure the republicans and the republicans are starting to talk about the possibility of holding up the debt ceiling come january or february. that's their trump card, as well. >> you are focused on taxes. much of the conversation has been on taxes and raising rates and revenue. we are not seeing t
. >> the other big story is the fiscal cliff. can you help us read the tea leaves here? this week we heard from timothy getter in, the treasury secretary. a reporter at cnbc asked if you don't get higher tax rates on the rich and republicans come up with doing away with loopholes and exceptions are you prepared to go over the fiscal cliff and he said absolutely. kpub cans with their counterproposals this week. what's behind closed doors? how do you read this? >> you know as well as...
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Dec 9, 2012
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republicans will demand there whether it's part of the deal in the fiscal cliff or to raise the debt limit. >> i'm glad you brought that up. in terms of spending, which clearly has to be cut, the president from the reports this week wants to raise the debt ceiling without asking anybody. did they comment on that? >> what he's saying is give me the unilateral right to raise the debt ceiling, which congress had has had to approve, then congress can disapprove with a two-thirds vote. that would mean i could increase it when he wants. it's very unlikely that -- almost impossible, republicans in congress would go along seeding there kind of authority with the president. they might agree to increase the debt limit for enough money to take him through the end of the term. but they're not just going to give him or future presidents the authority to increase the debt limit. that's part of the power congress has. >> we hope to see them working hard at this, time getting close to the end of the year. >> 23 days and counting. >> keep the stopwatch going. happy sunday. >> you bet, thank you. >> d
republicans will demand there whether it's part of the deal in the fiscal cliff or to raise the debt limit. >> i'm glad you brought that up. in terms of spending, which clearly has to be cut, the president from the reports this week wants to raise the debt ceiling without asking anybody. did they comment on that? >> what he's saying is give me the unilateral right to raise the debt ceiling, which congress had has had to approve, then congress can disapprove with a two-thirds vote....
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Dec 7, 2012
12/12
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it's going to be driving the conversation on the fiscal cliff. we only have 25 days until the tax hikes and spending cuts start to take effect. here is the thing. this number came in much better than expected, don. so the bad part about this is that it may not motivate all those politicians on capitol hill as much as it may have, if it came in much weak er. this may not light the fire, so to speak. that could be the downside to the upside surprise to the number. don? >> alison, stick around. we'll get back to you as well. >>> from wall street now to washington where the white house is keep iing a close eye on today's numbers. brianna keilar joins us now live. good morning, brianna. >> reporter: good morning to you, don. we're still awaiting reaction from the white house and also from congssional republicans. they've long said at the white house, take a look at the trend of these nuchls over the month. so this number, paired with the last couple of months on its face, they will say the trajectory looks good, obviously more needs to be done. maybe
it's going to be driving the conversation on the fiscal cliff. we only have 25 days until the tax hikes and spending cuts start to take effect. here is the thing. this number came in much better than expected, don. so the bad part about this is that it may not motivate all those politicians on capitol hill as much as it may have, if it came in much weak er. this may not light the fire, so to speak. that could be the downside to the upside surprise to the number. don? >> alison, stick...
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Dec 12, 2012
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we'll discuss the fiscal cliff with our "morning joe" panel. >>> and now, mercifully, i need your help. are you with me on this one? the phrase fiscal cliff, i'm over it, time's up, date reached on the expiration, nails on the chalkboard annoying. can't we be a little more creative? this is where you come in. e-mail your alternative to the phrase "fiscal cliff," and i'll use the best one tomorrow on our show. we won't use fiscal cliff, i promise. so far, my best, budgetary bluff? yeah, the bar's been set very low. >>> up next, we'll huddle around the water cooler, where jon stewart stepped out of his comfort zone with an eminem-inspired rap for the michigan protesters. >>> well, enough with the real news. let's gather around the water cooler. and first, a little moment of silence. louis louis, who wouldn't miss a second of on-camera opportunity has been talking to the porcelain god all night. not sure why. we wish you the best, louis. see you tomorrow morning. >>> well, a day like today won't come around for another 89 years. it's 12/12/12. no, it's not a sign of the apocalypse, but th
we'll discuss the fiscal cliff with our "morning joe" panel. >>> and now, mercifully, i need your help. are you with me on this one? the phrase fiscal cliff, i'm over it, time's up, date reached on the expiration, nails on the chalkboard annoying. can't we be a little more creative? this is where you come in. e-mail your alternative to the phrase "fiscal cliff," and i'll use the best one tomorrow on our show. we won't use fiscal cliff, i promise. so far, my best,...
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Dec 5, 2012
12/12
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try to prevent us from going over the fiscal cliff. >> those three guys are here live. and the man who shut down the government under bill clinton. what newt gingrich thinks it will take to avoid that happening again. >>> plus one of my personal heroes, the fastest man in the history of planet earth. jamaican sprinter usain bolt revealing a talent you may not know he has. ♪ let's get together and feel all right ♪ >> this is "piers morgan tonight." >>> good evening. our big story tonight, you are so hot, america. i mean that literally. the temperature was a balmy 60 degrees this afternoon in new york just outside cnn's studios. the average high temperature in december is normally 43. a warm front has flooded the lower 48 states. quite extraordinary but is it evidence of man-made global warming? that's tonight's battleground america. joining me now, bill nye the science guy and mark morano, the publisher of climate depo.com. welcome to you both. let me start with you, mark, if i may. you are implacably opposed to the concept of man-made climate change. why? >> we foll
try to prevent us from going over the fiscal cliff. >> those three guys are here live. and the man who shut down the government under bill clinton. what newt gingrich thinks it will take to avoid that happening again. >>> plus one of my personal heroes, the fastest man in the history of planet earth. jamaican sprinter usain bolt revealing a talent you may not know he has. ♪ let's get together and feel all right ♪ >> this is "piers morgan tonight." >>>...